Prudential PLC Sells 479 Shares of Aon plc (NYSE:AON)

Prudential PLC lessened its holdings in shares of Aon plc (NYSE:AON) by 11.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,821 shares of the financial services provider’s stock after selling 479 shares during the quarter. Prudential PLC’s holdings in AON were worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Capital Management LP purchased a new stake in AON in the second quarter worth $47,983,000. First Foundation Advisors grew its stake in AON by 66.2% in the second quarter. First Foundation Advisors now owns 36,082 shares of the financial services provider’s stock worth $10,593,000 after purchasing an additional 14,368 shares during the period. Oak Thistle LLC purchased a new stake in AON in the second quarter worth $519,000. YCG LLC grew its stake in shares of AON by 0.4% in the second quarter. YCG LLC now owns 140,885 shares of the financial services provider’s stock worth $41,361,000 after acquiring an additional 530 shares during the last quarter. Finally, Bowie Capital Management LLC grew its stake in shares of AON by 23.6% in the second quarter. Bowie Capital Management LLC now owns 262,481 shares of the financial services provider’s stock worth $77,059,000 after acquiring an additional 50,086 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Up 1.0 %

AON stock opened at $348.11 on Friday. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $352.49. The business’s 50-day moving average is $324.47 and its two-hundred day moving average is $310.05. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. The company has a market cap of $75.69 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 2.24 and a beta of 0.92.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.15). AON had a return on equity of 252.81% and a net margin of 18.00%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the business earned $2.76 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, analysts forecast that Aon plc will post 15.23 earnings per share for the current year.

AON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 1st. AON’s dividend payout ratio (DPR) is currently 21.16%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AON shares. Piper Sandler increased their target price on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company increased their target price on AON from $287.00 to $300.00 and gave the stock an “underweight” rating in a research note on Monday, July 29th. Bank of America cut AON from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Morgan Stanley dropped their price objective on AON from $300.00 to $296.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Barclays started coverage on AON in a research report on Wednesday, September 4th. They set an “overweight” rating and a $394.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, AON currently has an average rating of “Hold” and a consensus price target of $337.27.

AON Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.